5 Biases we all should know about
If I have to define bias, I would say it is a personal invalid predisposition. I welcome others to come up with a simpler definition though. Five biases that I would like to reflect upon here are;
- Hindsight Bias – It is when we overestimate our own ability to forecast past event/s. Like declaring with authority that I knew, this would have happened. Many people nowadays brag about their premonition of Corona pandemic. Although, it could not be predicted even by the strongest of nations.
- Fundamental Attribution Error – In simple terms when we judge ourselves by our intention and others by their behavior. So, if you ram your car into someone (hope it never happens), you will blame everyone but yourself and when someone else does the same, you will immediately question the individual’s sanity and ability to drive. Commonly observed in Managers too. J
- Groupthink (Bandwagon effect) – Following the herd. Numerous studies have shown how we as individuals resort to dominant group behaviour as a part of the crowd and do things, which we as individual might even abhor. Also, occurs during decision making when we cease to the majority even if what we believe could be right.
- Confirmation Bias – I suffered from it for a long time. The tendency to look for evidence that supports your own viewpoint. This makes us stubborn and less open to other perspectives.
- Recency Bias (Effect) – The tendency to focus on recent happenings. This clouds our broader perspectives as we overwhelmed by just one aspect, which we are exposed to, recently. For example forgetting about all the years’ good work of your sibling, mother or manager and just focusing on one recent bad incident.
There are many more, however I thought of focusing on these 5 for the time being. Will come up with others shortly, the next time only with examples. Do share which one you suffer from the most, from this list or out of it.